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Quarterly Benchmark Refresh and Updated US and International Geographic Adjustments - Q2 2024

By Brent Devey posted 05-03-2024 08:32

  

What’s new?

We have updated salary, total cash compensation, and equity benchmarks for all job areas and specializations. Additionally, we have updated US geographic adjustments for all metro areas as well as international market adjustments and currency conversions. 

Benchmark Trends

In aggregate, salary and total cash compensation benchmarks are slightly higher than our last release, increasing by 1%. Salaries increased slightly more for companies with valuations up to $100M. Across all roles, levels 7 and above tended to increase more than levels 6 and below. Similar to previous updates, specialization level data continues to change more than the broader sample, as sample sizes for these roles are smaller than job area level data.

Equity benchmarks are increasing in aggregate, showing about a 4% increase versus last quarter. Looking at equity trends by valuation, equity benchmarks increased the most for companies with valuations greater than $500 million.

Looking across updated geographic differential data, we observed our top market compensation increasing faster than most other metro areas, resulting in some slightly larger discounts between our top markets and other cities. Most of the larger metro areas within our dataset, however,  have remained relatively stable. For international locations, salary and/or equity adjustments have changed by 10% or more in the following countries: Brazil, Germany, Singapore, Japan, United Arab Emirates, and Switzerland. 

What were the largest areas of movement from these benchmarks?

Salary - Salary benchmarks for most job areas and specializations are within 2% of last quarter’s data. 

Equity - We saw a wider range of equity changes this quarter compared to previous quarters. Some of the larger increases are in Recruiting, Strategy, Project Management, and Sales/Solutions Engineering which are all increasing 10-15% versus last quarter. Mobile Engineering and Product Management saw the largest decreases vs. last quarter (6-8%)

How do I update my benchmark version?

You can also preview the new benchmarks on your Scorecard by navigating to the Benchmarks page and clicking on the "Preview benchmarks" bubble in the top left.

Here you will have the opportunity to preview the new plan with the updated benchmarks version and assess their impact on your Scorecard before accepting the new plan.

Questions?

If you have any questions about these new benchmarks, please reach out to your Customer Success Manager.

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